211 CMR 132.08 - Penalties

Current through Register 1466, April 1, 2022

(1) A company neglecting to submit with its annual statement an Actuarial Opinion in accordance with M.G.L. c. 175, § 9B and 211 CMR 132.00 and within the time provided by M.G.L. c. 175, § 25 shall forfeit $100.00 for each day during which such neglect continues, and, upon notice by the Commissioner, its authority to do new business shall cease while such default continues without any proceedings under M.G.L. c. 175, §§ 5 or 6.
(2) The Commissioner may notify the Actuarial Board for Counseling and Discipline of any violation of M.G.L. c. 175, § 9B or 211 CMR 132.00 by a Qualified Actuary.

Notes

211 CMR 132.08

The following state regulations pages link to this page.



State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.